Tesla has broken a record, business magazine

Fortune has

calculated.

Never before has a large company lost as much market value in such a short time as Tesla has in the past five weeks.

On Friday afternoon, the American electric car manufacturer was worth $ 305 billion (256 billion euros) less than at its January peak.

At the close of the trading day, Tesla's stock was close to $ 600, giving the company a market capitalization of about $ 573 billion.

At its peak, it was $ 883 billion.

Fortune notes that the amount by which Tesla's stock market value has fallen is still higher than the stock market value of virtually any other company on the S&P 500 stock index, the stock index of the largest companies in the United States and an important indicator of the U.S. stock market .

According to Fortune, Tesla's erratic price trend illustrates the uncertainty about how a company that delivered half a million cars in 2020 should be valued compared to the competition.

Toyota, the largest car manufacturer in the world, is worth nearly $ 210 billion.

Tesla has high expectations for 2021. Not only will the upgraded versions of the Model S and Model X be on the market this year, the Model Y will also be available in Europe.

In addition, new production centers in Germany and Texas, US, must be completed.

Finally, this year Tesla is counting on the arrival of the long-awaited Semi, a fully electric truck.

The record of loss in value is held by PetroChina, the country's largest oil and gas producer.

This company lost approximately $ 800 billion of its value between 2007 and 2017.